French power utility Electricite de France (1024251.FR) Tuesday confirmed the renewal for three years of its shareholders' pact, with Italian holding company Delmi, for joint control of Italian electricity provider Edison (EDN.MI).
A spokeswoman for EdF explained that EdF has a 19% direct stake in Edison. Transalpina de Energia, of which EdF and Delmi each own half, controls over 60% of Edison.
Either party in the shareholders' pact could have signaled their dissatisfaction with it before March 15 - six months before its expiration. But since that didn't happen, the pact is renewed from Sep. 15 2008 through the same date in 2011, the EdF spokeswoman said.
The EdF spokeswoman said Chairman and Chief Executive Pierre Gadonneix has signaled his satisfaction with how the shareholders' pact works.